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Ford to speculate $1.3 billion to construct EV manufacturing hub in Canada

Ford show on the New York Auto Present, April 6, 2023.

Scott Mlyn | CNBC

DETROIT – Ford Motor will make investments 1.8 billion Canadian {dollars} (about $1.3 billion) in its Oakville Meeting Plant in Ontario, Canada, to transition the ability into a brand new electrical car hub, the automaker stated Tuesday.

The plant, which can be renamed the Oakville Electrical Automobile Complicated, will construct the corporate’s next-generation EVs which are anticipated to reach to market round mid-decade. The retooling is anticipated to take six months and start within the second quarter of subsequent yr, Ford stated.

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“We’re reusing all of its infrastructure, from the land itself to the buildings and even its roads to shortly put together for a brand new era of producing,” stated Dave Nowicki, director of EV manufacturing on the automaker, throughout a media name.

Ford declined to reveal the plant’s anticipated manufacturing capability or what number of electrical car fashions the retooled facility will construct. When the automaker initially agreed to the funding take care of Canadian auto union Unifor in 2020, the plant was anticipated to supply 5 EV fashions. Nonetheless, these plans could have been scaled again to 2 autos, in keeping with Automotive News.

The adjustments to the Oakville complicated will embrace combining three physique outlets into one and including battery pack meeting, Ford stated. The power will use cells from a battery plant that is at the moment underneath building in Kentucky.

The Oakville complicated would be the firm’s first time fully retooling a North American facility producing gas-powered autos into one which manufactures EVs. It has beforehand retooled components of crops, constructed onto present crops or introduced new manufacturing services for EVs.

The Oakville plant will proceed to construct the gas-powered Ford Edge and Lincoln Nautilus crossovers up till the plant’s downtime subsequent yr. An organization spokesman declined to reveal its manufacturing plans for these autos after the funding is accomplished.

The funding is a part of Ford’s plan to have manufacturing capability for two million EVs globally by the tip of 2026.

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